Indian Rupee at over 1 week high on broad dollar losses; bond yields slip
The rupee appreciated 14 paise to close at 79.76 (provisional) against the US dollar on Monday tracking strong regional peers and soft greenback.
At the interbank forex market, the local unit opened at 79.86 against the greenback and finally settled at 79.76 (provisional), registering a rise of 14 paise over its previous close.
During the session, the local unit witnessed an intra-day high of 79.70 and a low of 79.87 against the American currency.
In the previous session, the rupee had closed at 79.90 against the American currency.
The dollar index, which measures the greenback's strength against a basket of six currencies, was down 0.38 per cent at 106.32.
Brent crude futures, the global oil benchmark, rose 1.25 per cent to USD 104.49 per barrel.
According to Dilip Parmar, Research Analyst, HDFC Securities, the Indian rupee started the week on the front foot following stronger regional currencies and weaker crude oil prices.
"We have entered the Fed week with markets back to th